RBS to cut 3,700 UK jobs

RBS to cut 3,700 UK jobs

LONDON (Reuters) - Royal Bank of Scotland said it would be forced to sell more assets than it had expected and axe 3,700 jobs from its retail business as another radical shake-up loomed for Britain's banks. European competition authorities are set to force RBS to sell its insurance arm and over 300 branches, and shrink investment banking operations, according to people familiar with the matter.

iii.co.uk